SpiceJet launches EMI payment scheme to book tickets

NEW DELHI: Budget airline SpiceJet today offered its customers a convenient post-paid scheme, which allows a flier to make the ticket payment in equated monthly installments (EMIs) at an interest rates as low as 12-14 per cent.

The offer allows passengers to save significantly (up to 70 per cent interest cost reduction) on deferred/delayed payment interest costs relative to traditional credit card fees, SpiceJet said in a release.

The scheme is valid for the customers holding credit cards of Axis Bank, HSBC Bank, Kotak Bank, and Standard Chartered Bank, it said, adding that the facility will be extended to the card holders of other banks as well in near-term.

SpiceJet's Chief Marketing Officer, Debojo Maharshi said, "Providing customer convenience and enhancing options through unique travel schemes and offers are central to SpiceJet's philosophy. We are confident that this scheme will make air travel more economically-viable than ever before for those customers who want to travel now, but pay later,"

According to the airline, passengers holding credit cards issued by these banks can pay as per their own preference of schedule that may vary between 3 and 12 months, at interest rates in the range of 12-14 per cent, compared to typical credit card interest rates in excess of 36 per cent, it said.

The facility is, however, available for bookings made through the SpiceJet website, it said, adding in case of airfare refunds, customers will have to bear the costs of the interest rate already billed for that particular booking.